Red Star Macalline Group Valuation

Is 3S5 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 3S5 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate 3S5's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate 3S5's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 3S5?

Key metric: As 3S5 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 3S5. This is calculated by dividing 3S5's market cap by their current revenue.
What is 3S5's PS Ratio?
PS Ratio	0.9x
Sales	CN¥8.94b
Market Cap	CN¥14.07b

3S5 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	4.8x
Enterprise Value/EBITDA	37x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 3S5's PS Ratio compare to its peers?

The above table shows the PS ratio for 3S5 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	4.4x
GYC Grand City Properties	3.5x	1.5%	€2.1b
DEQ Deutsche EuroShop	5.2x	-0.2%	€1.5b
AT1 Aroundtown	2.2x	2.8%	€3.1b
SPB Sedlmayr Grund und Immobilien	6.7x	n/a	€903.2m
3S5 Red Star Macalline Group	0.9x	1.6%	€15.1b

Price-To-Sales vs Peers: 3S5 is good value based on its Price-To-Sales Ratio (0.9x) compared to the peer average (4.4x).

Price to Sales Ratio vs Industry

How does 3S5's PS Ratio compare vs other companies in the DE Real Estate Industry?

10 Companies	Price / Sales	Estimated Growth	Market Cap
DIC Branicks Group	0.7x	-21.8%	US$194.06m
DMRE DEMIRE Deutsche Mittelstand Real Estate	0.5x	-42.0%	US$85.70m
ADJ Adler Group	0.1x	n/a	US$48.82m
NUVA Noratis	0.3x	16.6%	US$15.84m

10 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 3S5 is good value based on its Price-To-Sales Ratio (0.9x) compared to the German Real Estate industry average (3.7x).

Price to Sales Ratio vs Fair Ratio

What is 3S5's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

3S5 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.9x
Fair PS Ratio	1.4x

Price-To-Sales vs Fair Ratio: 3S5 is good value based on its Price-To-Sales Ratio (0.9x) compared to the estimated Fair Price-To-Sales Ratio (1.4x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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